This Is the Only Reason to Invest in Bitcoin – The Motley Fool

This Is the Only Reason to Invest in Bitcoin – The Motley Fool

Are you thinking about investing in Bitcoin (CRYPTO:BTC)? You aren’t alone. The virtual currency has become a very popular investment and with good reason. It’s the most well-known of the cryptocurrencies. And unlike many other tokens, at least some businesses actually accept it as a payment method. It’s also a favorite of celebrity investors and financial gurus including Elon Musk and Suze Orman

But before you bite the bullet and purchase some, it’s crucial to make sure adding it to your portfolio is actually a smart move. And to do that, you need to consider your investment goals. 

That’s because there’s really only one good reason to add the virtual currency to the list of the investments you own. 

Investor reviewing charts and files.

Image source: Getty Images.

You should invest in Bitcoin if this is your goal

If you’re hoping to make a quick profit on Bitcoin, or your investing objective is to become a crypto millionaire, adding it to your portfolio could be a decision you’ll come to regret.

That’s because timing your investment perfectly to see short-term gains is really difficult when the price of the cryptocurrency fluctuates so much. And Bitcoin would likely need to see